According to Shopify's survey, sustainability remains a core value for consumers ahead of the Black Friday and Cyber Monday sales. Despite rising living costs, 51 percent of consumers currently shop sustainably and will continue to do so.
“Conscious commerce is growing on a mass scale and plays a significant role in the purchasing decision of today’s consumer. It’s incredibly promising to see the determination of both consumers and businesses to make better choices for the environment through these findings. As an industry, it’s now critical that everyone plays their role in lowering the barriers so that conscious shopping doesn't come at a cost to the planet,” said Shaun Broughton, Managing Director of Shopify APAC.
Investment barriers, lack of time and know-how are some of the biggest barriers to retailers growing sustainable measures. However, 82 percent agreed it is a major driver for brand loyalty.
Customers are willing to pay more (39 percent) and recommend products (61 percent) if a product or business is sustainable. Nearly two-thirds of customers said they are willing to put more time and effort into researching and shopping around to find the right sustainable product - a number that is higher in younger generations.
